Hastings Group (HSTG) Price Target Cut to GBX 265 by Analysts at BNP Paribas

Hastings Group (LON:HSTG) had its price objective cut by BNP Paribas from GBX 350 ($4.91) to GBX 265 ($3.72) in a report published on Thursday morning. They currently have an underperform rating on the stock.

HSTG has been the topic of a number of other reports. Berenberg Bank boosted their price target on shares of Hastings Group from GBX 315 ($4.42) to GBX 341 ($4.79) and gave the company a buy rating in a research note on Wednesday, February 14th. Barclays reissued an equal weight rating and issued a GBX 336 ($4.72) price target on shares of Hastings Group in a research note on Monday, December 11th. Investec reduced their price target on shares of Hastings Group from GBX 350 ($4.91) to GBX 325 ($4.56) and set a buy rating on the stock in a research note on Monday, March 12th. Peel Hunt reissued an add rating and issued a GBX 355 ($4.98) price target on shares of Hastings Group in a research note on Thursday, March 1st. Finally, JPMorgan Chase downgraded shares of Hastings Group to a neutral rating in a research note on Friday, January 5th. Five equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of GBX 297.91 ($4.18).

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Shares of Hastings Group stock traded up GBX 2.60 ($0.04) on Thursday, reaching GBX 271.60 ($3.81). The company had a trading volume of 339,755 shares, compared to its average volume of 1,190,000. Hastings Group has a 52-week low of GBX 244 ($3.43) and a 52-week high of GBX 336.70 ($4.73).

Hastings Group (LON:HSTG) last released its quarterly earnings results on Thursday, March 1st. The company reported GBX 22 ($0.31) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of GBX 21.60 ($0.30) by GBX 0.40 ($0.01). The business had revenue of £856.10 million for the quarter. Hastings Group had a net margin of 18.57% and a return on equity of 23.22%.

The firm also recently announced a dividend, which will be paid on Thursday, May 31st. Investors of record on Thursday, May 3rd will be paid a dividend of GBX 8.50 ($0.12) per share. This is an increase from Hastings Group’s previous dividend of $4.10. This represents a yield of 3.09%. The ex-dividend date of this dividend is Thursday, May 3rd.

In related news, insider Gary Hoffman sold 403,671 shares of the company’s stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of GBX 303 ($4.25), for a total transaction of £1,223,123.13 ($1,716,905.01).

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About Hastings Group

Hastings Group Holdings plc, formerly Hastings Group Holdings Limited, is a holding company. The Company provides general insurance. Its segments include Underwriting, Retail and Corporate. The Underwriting segment includes underwriting business based in Gibraltar. The Underwriting segment includes its subsidiaries, Advantage Insurance Company Limited (AICL), which is engaged in underwriting general insurance, primarily private car insurance in the United Kingdom, and Conquest House Limited, which owns property utilized by the Company.

Analyst Recommendations for Hastings Group (LON:HSTG)

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